Jasz
VIP Contributor
Renting out building materials is a low-cost, high-reward way to have a successful side hustle. Let's say you have some extra materials in your garage—do you know how much they're worth? Probably less than they could be earning! Instead of letting them sit in storage, find a way to rent them out.
I have a lot of friends who are in their late 20s and are either about to build or have just started building their first homes.
Some of them are on a tight budget, but others have more money than they know what to do with. All the same, I've noticed that the construction process can be a costly one—especially if you're only renting the tools and materials for a short period of time. In fact, when I was taking a look at some of the projects around me, I was shocked about the expenses made over construction equipment and supplies alone!
However, people will prefer the alternative of renting tools to purchasing it for their project because it's cheaper and just for a short period.
How much can you make? You can make a lot of money if you have a lot of building equipment available to let out.
You Should Consider The Followings:
1. Limit the time frame of your rentals (anything over a week and you risk never getting your items back).
2. Consider adding an insurance fee when you rent out highly valuable or breakable items.
4. Make sure to vet potential renters properly, and always take payment in advance!
I have a lot of friends who are in their late 20s and are either about to build or have just started building their first homes.
Some of them are on a tight budget, but others have more money than they know what to do with. All the same, I've noticed that the construction process can be a costly one—especially if you're only renting the tools and materials for a short period of time. In fact, when I was taking a look at some of the projects around me, I was shocked about the expenses made over construction equipment and supplies alone!
However, people will prefer the alternative of renting tools to purchasing it for their project because it's cheaper and just for a short period.
How much can you make? You can make a lot of money if you have a lot of building equipment available to let out.
You Should Consider The Followings:
1. Limit the time frame of your rentals (anything over a week and you risk never getting your items back).
2. Consider adding an insurance fee when you rent out highly valuable or breakable items.
4. Make sure to vet potential renters properly, and always take payment in advance!
